Deciding to obtain an MBA is a major obligation. You’re going to spend a great deal of time and effort in and out of the classroom over the next two years in pursuit of your degree. The financial obligation is just as important. In fact, the average cost of an MBA is now estimated to be between $100 and $200,000.

Useful Tools

CommonBond: This student loan calculator lets you figure out exactly how much you need to borrow and estimates your payment schedule.

Mapping Your Future: A different kind of financial calculator, this lets you figure out how much you can afford to borrow given your expected future earnings.

VolunteerMatch.org: The majority of MBA scholarships require some level of community involvement. VolunteerMatch.org gives you opportunities for involvement based on your skills and interests.

Mint.com: Mint is a great way to organize and track your personal finances, including any student loans. This tool allows you to figure out exactly what kind of loan you can fit into your life.

Salary.com: They offer a useful cost-of-living wizard that lets you figure out the cost of living in a variety of different US markets.

BankRate: Their student loan calculator lets you figure out how to pay your loans off quickly, avoiding paying tons of interest for your MBA.

International Student: To help you write a killer scholarship essay, International Student provides samples and guidelines of scholarship essays that get results.

Private Student Loan Lenders

State-Specific Lenders: There are private lenders specific to each state, and they usually provide better loans than national lenders.

College Scholarships: CollegeScholarships.org maintains a blog on financial aid, which covers advice ranging from finding the right loan to qualifying for the most exclusive scholarships.

Top MBA: One of the leading resources for prospective, current, and alumni MBA students, Top MBA offers plenty of information about financing your education.

MBA.com: The official website of MBA preparation, MBA.com also offers plenty of information on how to pay for your degree.

Nelnet.com: They allow you to fill out a single application to send to multiple private lenders, giving you a chance to quickly and easily compare rates and terms.

MBA Salary: By the end of five years after earning your MBA, you can expect to make a full 80 percent more than you made before earning your MBA

Value of a MBA: Is it Worth It?: While the cost of an MBA can create a lot of apprehension for prospective students, the overwhelming evidence from 2015’s graduates suggests that it’s not only possible to find a better job, but that the financial opportunities are much richer..

To help you out, here are the best resources for helping you plan how to afford and finance the cost of your MBA:

Take the First Step

In an increasingly global, competitive marketplace, having MBA-level management and leadership skills are absolutely critical to your career progression. An accredited Online MBA will provide the opportunity to better serve your current company or business.

Use our website to learn about all of the accredited online MBA options available to you today.

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